So, in 2021 a lot of people are probably looking for a legit way to Bitcoin, without using any fishy Crypto sites.
In fact, if you’re new to Crypto and you would like to buy Bitcoin, chances are high that you might face some problems.
But no worries, we got you covered. And to back up everything we say, we’ve used Reddit to find the best way to buy Bitcoin in 2021.
Step by Step, here you’ll find out what to watch out for.
Table of Content
There are a lot of Subreddits which I used to find the best way to buy Bitcoin. The biggest ones were r/Cryptocurreny and r/Bitcoin and r/BitcoinBeginners. Fortunately, to not make things more complicated, Reddit is pretty united in terms of where to buy your first Bitcoin.
On the r/BitcoinBeginners Subreddit, I’ve found this comment (1) which was a pretty good example of this consensus.
Buy Bitcoin acc. Reddit for Beginners
So, for Beginners, Coinbase is the way to go. Although Reddit doesn’t want to praise Coinbase too highly, it’s the way to buy Bitcoins in 2021. The problem with Coinbase is that a lot of people are complaining about the fees.
Coinbase fees are 3.99% if you use debit and 1.49% by using ACH. Additionally, you pay $3-$4 for withdrawing Bitcoins(2).
But, Reddit has got you covered on this.
Here’s the deal:
Coinbase Pro is pretty much the same as Coinbase. However, the buying fee is only 0.5%. The withdrawal is the same though. That’s also the general opinion you’ll find on other Subreddits like r/Ethereum.
So, if you’re a beginner in buying bitcoin, listen to Reddit and get your Bitcoin from Coinbase.
We’re going to explore other options as well but first let’s try to find Reddit’s opinion on what to do after you have bought your Bitcoins.
The general opinion is that you don’t let your coins in the exchange you’ve bought them before. Coinbase is an exchange. So, don’t leave your coins there. Instead, transfer them into a wallet.
Best Crypto Wallet acc. Reddit
Finding the best Bitcoin or Cryptocurrency wallet isn’t as straightforward as buying Bitcoin. There are different types of wallets for different use cases. According to Reddit(3), these are the four wallet types:
- Hardware Wallets
- Mobile Wallets
- Desktop Wallets
- Paper Wallets
To save you some time, the hardware wallet is the most secure one. It’s an offline wallet which should be used, if you want to store more than $100 worth of Bitcoin or Cryptocurrency.
Which Hardware Wallet to choose from?
As you may already have seen in the picture, one Redditor’s advice was to avoid Ledger and get a Trezor wallet. The reasoning behind this comment was a breach within the Ledger community, lot’s of data got exposed. So, we took some more investigation since you’re probably asking yourself, is the Ledger Nano truly safe?
However, as of September 2021, according to Reddit, it is.
The Ledger Nano is pretty popular so don’t worry if you want to get it. Just keep your seeds safe and you should be good to go.
But that doesn’t mean you can’t checkout the Trezor Wallet. Let’s compare them both:
|Hardware Wallet||Supported Coins||Open-Source||Price|
Open-Source means essentially that the whole Trezor code is available to the public. The advantage is that if Trezor would try to do something fishy with their software, people would detect it.
Safe to say that is a big part why some people prefer the Trezor wallet.